Terry Hindermann, principal at the firm, though, did tellGlobeSt.com that it will be investing some $3.5 million inrenovations to transition the single-use building to a facilitythat could support multi-tenants as well as develop parking on partof the 18 acres that is included in the purchase. The firm isacquiring the building from PNC, which acquired MercantileBank.

Altus has tapped CB Richard Ellis to lease the facility, calledHammonds Ferry Corporate Center CBRE's Joe Ruzecki and Ben Meiselswill be handling the account. The building, located at 618-766 OldHammonds Ferry Rd., is expected to ready for new tenants in January2008.

The lease up strategy will focus on one of the building's keystrengths, Hindermann says--its location close to the BWI Airport."One reason why we like the BWI Corridor is because the BaseRealignment and Closure is fueling new commercial tenant activityand job growth." Other acquisitions in the region by the firminclude the Steiff Silver Building located on I-83 near JohnsHopkins University and the Ridgeview Plaza Shopping Center on Route175 at the north gate of Ft. Meade in Anne Arundel County. Altusspent in the aggregate almost $40 million for these properties.According to Hindermann, it is looking at spending another $50million over the next 12 months. "We are evaluating two or threeother possibilities right now, including retail," he says.